The CFO of New York hedge fund Boston Provident Partners has been arrested and charged with stealing more than $1.3 million from the firm.

Ezra Levy has been hit with 11 counts of securities and wire fraud. According to federal prosecutors in New York, Levy transferred $726,000 from Boston Provident accounts to his own, and also sold shares of Atlas Energy from an account he controlled to the hedge fund at an inflated price, earning a $600,000 profit.

Levy was immediately fired by Boston Provident, which is run by Orin Kramer, a well-known Democratic fundraiser and chairman of the New Jersey State Investment Council. Kramer has pledged to cover losses stemming from Levy’s alleged scam. The firm has also demanded that Levy’s assets, including those in the partnership, be seized.

“Boston Provident was outraged to learn of the theft,” the hedge fund said in a statement. “This is an egregious violation of the law and the trust of our investors.”

Levy stole the money in increments from January through last month, prosecutors say. He has been released on $1 million bond.